As with indorsement, this holder-in-due-course feature made negotiable debt more acceptable in exchange.
In particular, while the concept of holder in due course is of limited applicability in modern situations (see for example, Mann 1999, 445-47) the notion of indorsement and the conditional liability that it implies are still relevant.
This means that even if the indorsement and delivery did not occur, the trust would still have standing to foreclose.
If so, then the trust cannot enforce the notes unless it is a person entitled to enforce under Article 3, which, in most cases, requires indorsement and delivery.
The plaintiff filed the original note, which showed an indorsement to another person, but no indorsement to the plaintiff.
2011 (2010) requires an indorsement for a transferee to become a "holder," if the instrument is payable to a specific person, but even a nonholder transferee may often enforce the instrument.
Are mortgage loans transferred by negotiation--meaning indorsement
and physical delivery of the promissory note-or by sale contract, or by recordation in land records?